Inductor Market Share to Gain USD 7.0 billion by 2027
inductor market is projected to grow from USD 5.1 billion in 2022 to reach USD 7.0 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.6 % from 2022 to 2027.
The inductor market is projected to grow from USD 5.1 billion in 2022 and is projected to reach USD 7.0 billion by 2027; it is expected to grow at a CAGR of 6.6 % from 2022 to 2027. Increasing innovations and developments in consumer electronic products, growing trend of smart cities and smart homes that require energy-efficient electronic and electrical systems is expected to fuel the growth of the inductor market.
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Inductor market for consumer electronics industry is expected to hold largest share from 2022 to 2027.
The consumer electronics segment is expected to account for the largest share of the inductor market The consumer electronics vertical makes the highest use of inductors. Inductors find applications in power supplies of various complex circuits to manage current, and also as filters in circuits to cut off undesirable frequencies power supply in various . The rise in demand for consumer electronics across the world, such as smartphones, tablets, portable gaming consoles, laptops, and set-top boxes is the major factor driving the increase in adoption of various inductors. Several companies such as Panasonic and Bourns Inc. offer different types of inductors for consumer electronics.
Wire-wound inductors to dominate market during forecast period.
The wire-wound inductor segment is expected to account for the largest share of the inductor market during the forecast period. The core of wire-wound inductors is made of magnetic metals such as iron or ferrite around it. Electrical circuits can be disrupted and audio sound quality can be deteriorated due to interference from unwanted radio frequencies. Hence, the use of wire-wound inductors enables in blocking or filtering radio frequencies. These wire-wound inductors are typically found in car audio systems and electronic control units (ECUs) and also in electronic equipment used in communication infrastructures and mobile base stations. They are majorly these inductors are leveraged in frequency circuits of mobile communication equipment, such as wireless LAN, mobile phones, broadband components, RFID tags, RF transceivers, Bluetooth, Wireless PDA, and security systems. When compared to other types of inductors, the manufacturing cost involved is less as well as they offer a high inductance value.
Shielded inductors to witness highest CAGR during forecast period.
The shielded type of inductors are designed and constructed specifically to contain the magnetic field inside their enclosure so that other nearby components are not affected. They are constructed by winding a coil of wire around an axial leaded structure and covering the core with a magnetic shield to prevent the magnetic flux from leaking. The main advantage of shielded inductors is their relatively low emissions compared with semi-shielded or unshielded inductors. Various companies such as Bourns (US), Murata Manufacturing (Japan), Wurth Elektronik (Germany), and Delta Electronics (Taiwan) provide shielded types of inductors.
North America held significant share of inductor market in 2021 and is expected to follow the trend by 2027.
North America is expected to account for a significant of the inductor market during the forecast period. The presence of major companies in this region and factors such as the increasing demand for inductors and the growing popularity of inductor-based devices for automotive and industrial applications are driving the growth of the market in this region. A few of the major companies operating in the inductor market in North America include Vishay Intertechnology (US), Pulse Electronics (US), Coilcraft, (US), Bourns (US), ICE Components (US), and AVX (US). A few of the largest automobile manufacturers are based in North America, which results in an increasing demand for inductors in the region.
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Key players in the inductor market include Murata Manufacturing (Japan), TDK (Japan), Vishay Intertechnology (US), TAIYO YUDEN (Japan), Chilisin Electronics (Taiwan), Delta Electronics (Taiwan), Panasonic (Japan), ABC Taiwan Electronics (Taiwan), Pulse Electronics (US), Coilcraft (US), Shenzhen Sunlord Electronics (China), Bourns (US). Apart from these, Sumida (Japan), ICE Components (US), Bel Fuse (France), Falco Electronics (Mexico), GCi Technologies (US), Würth Elektronik (Germany), Kyocera AVX (US), Samsung Electro-Mechanics (South Korea), Inductor Supply Inc. (US), Gowanda Electronics (US), Token Electronics (Taiwan), TT Electronics (UK), Laird Technologies (US), Johanson Technology (US), Zhenhua Electronics (China) are among a few emerging companies in the inductor market.